Is 07442, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 07442 has remained a Seller's Market.
Key Takeaway
07442 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07442, NJ
How much do homes in 07442, NJ cost?
Median Sold Price
$463,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07442 have sold for 11.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195.5K | $234.5K | +19.9% |
| 2 Bedrooms | $347.5K | $400K | +15.1% |
| 3 Bedrooms | $429.5K | $480K | +11.8% |
| 4 Bedrooms | $470K | $520K | +10.6% |
| 5+ Bedrooms | $625K | $712K | +13.9% |
Summary: 07442 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.9%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Zip Codes
| 07457 | $370K | $420K | +13.5% |
| 07442 | $415K | $463K | +11.6% |
| 07420 | $390K | $420K | +7.7% |
| 07444 | $513K | $550K | +7.2% |
| 07436 | $619.9K | $619K | -0.1% |
Housing Supply in 07442, NJ
How many homes are available in 07442, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 45 | +25.0% |
Summary: The 07442 real estate market had 45 homes for sale in March 2024, a 25.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 07442 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07442, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07442 in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for 07442, NJ
We’re sorry, we don't have information for this market at the moment
